Nuveen Asset Management LLC Grows Stake in LendingClub Co. (NYSE:LC)

Nuveen Asset Management LLC grew its holdings in LendingClub Co. (NYSE:LC - Free Report) by 2.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,839,360 shares of the credit services provider's stock after purchasing an additional 49,996 shares during the period. Nuveen Asset Management LLC owned approximately 1.64% of LendingClub worth $29,779,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the business. Numerai GP LLC acquired a new position in LendingClub during the 4th quarter worth about $1,015,000. OMERS ADMINISTRATION Corp acquired a new position in LendingClub during the 4th quarter worth about $434,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in LendingClub during the 4th quarter worth about $243,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in LendingClub by 1.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 190,348 shares of the credit services provider's stock worth $3,083,000 after acquiring an additional 3,137 shares in the last quarter. Finally, G2 Investment Partners Management LLC acquired a new position in LendingClub during the 4th quarter worth about $9,751,000. Institutional investors and hedge funds own 74.08% of the company's stock.

Insider Buying and Selling at LendingClub

In other news, CEO Scott Sanborn sold 5,250 shares of the stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $10.34, for a total value of $54,285.00. Following the transaction, the chief executive officer now owns 1,297,782 shares in the company, valued at approximately $13,419,065.88. This represents a 0.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael P. Zeisser acquired 20,000 shares of the company's stock in a transaction dated Wednesday, April 30th. The stock was acquired at an average price of $9.35 per share, for a total transaction of $187,000.00. Following the acquisition, the director now owns 174,138 shares in the company, valued at approximately $1,628,190.30. The trade was a 12.98% increase in their position. The disclosure for this purchase can be found here. Insiders have sold 21,000 shares of company stock valued at $215,198 in the last quarter. Corporate insiders own 3.31% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on LC. Piper Sandler reissued an "overweight" rating and set a $19.00 target price (down previously from $20.00) on shares of LendingClub in a research note on Wednesday, January 29th. Keefe, Bruyette & Woods decreased their target price on LendingClub from $15.00 to $14.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Wall Street Zen lowered LendingClub from a "hold" rating to a "sell" rating in a research note on Tuesday, May 6th. Finally, JPMorgan Chase & Co. decreased their target price on LendingClub from $17.00 to $14.00 and set a "neutral" rating on the stock in a research note on Monday, March 10th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, LendingClub has an average rating of "Moderate Buy" and an average price target of $15.75.

LendingClub Stock Performance

LC stock traded up $0.31 during mid-day trading on Tuesday, reaching $10.17. The company had a trading volume of 1,044,801 shares, compared to its average volume of 1,612,916. The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of 22.60 and a beta of 2.35. The firm has a fifty day simple moving average of $10.16 and a 200 day simple moving average of $13.17. LendingClub Co. has a fifty-two week low of $7.81 and a fifty-two week high of $18.75.

LendingClub (NYSE:LC - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The credit services provider reported $0.10 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.10. The company had revenue of $217.71 million for the quarter, compared to analyst estimates of $213.71 million. LendingClub had a return on equity of 4.16% and a net margin of 6.52%. LendingClub's revenue for the quarter was up 21670.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.11 EPS. As a group, analysts predict that LendingClub Co. will post 0.72 earnings per share for the current year.

About LendingClub

LendingClub Corporation, operates as a bank holding company, that provides range of financial products and services in the United States. It offers deposit products, including savings accounts, checking accounts, and certificates of deposit. The company also provides loan products, such as consumer loans comprising unsecured personal loans, secured auto refinance loans, and patient and education finance loans; and commercial loans, including small business loans.